That the market was going to open at that was inevitable, since international regulators and most other nations were once again opening their markets to U.S. beef. However, the Korean government, which had promised domestic farmers that it would keep tariffs high to protect the local industry, set about rapidly removing those tariffs when the Free Trade Agreement was reached (Hankyoreh, 2007).

The response was swift. With a dramatic increase in supply imminent, beef prices began to decrease. Korean beef farmers began trying to unload their cattle at market, but found few buyers. The price of a female calf dropped from 3.2 million won before the Free Trade Agreement 2.3 million won after. Korean cattle farmers, who had seen their industry grow under the ban and protectionist tariffs were now facing a crisis.

For its part, the general public had other concerns. Fueled by inflammatory media reports that contained gross...
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